Business, international

American aluminum firm Alcoa Inc. has bid $26.9 bil for Canadian company Alcan Inc., which has already rejected previous offers from Alcoa. If Alcoa is successful, the purchase would create a global giant valued at $54 bil which would produce approximately 20% of the world's total aluminum.

Alcoa pushes Alcan bid: investing in Quebec could win backing from local officials

Article Abstract:

Aluminum company Alcoa Inc. announced plans to invest $7 bil in Canadian-based plants in an effort to make its bid for Canada's Alcan Inc. more attractive. Alcoa has bid $27.49 bil in cash and stocks for Alcan.